XML 21 R9.htm IDEA: XBRL DOCUMENT v3.4.0.3
Oil and Gas Properties
3 Months Ended
Mar. 31, 2016
Extractive Industries [Abstract]  
Oil and Gas Properties
Oil and Gas Properties and Equipment, net
Net capitalized costs, utilizing the successful efforts method of accounting, related to our oil and gas producing activities follows:
 
First
Quarter-End
 
Year-End
 
2016
 
2015
 
(In thousands)
Unproved leasehold interests
$
11,453

 
$
19,441

Proved oil and gas properties
75,673

 
119,414

Total costs
87,126

 
138,855

Less: accumulated depreciation, depletion and amortization
(44,746
)
 
(58,242
)
 
$
42,380

 
$
80,613


In first quarter 2016, we recorded a net loss of $10,977,000 on the sale of 190,960 net mineral acres leased from others and 185 gross (66 net) producing oil and gas wells in Nebraska, Kansas, Oklahoma and North Dakota for total sales proceeds of $32,227,000, which includes $3,269,000 in reimbursement of capital costs incurred on in-progress wells that were assumed by the buyer. A significant portion of the net loss on sale, $7,244,000, is related to write-off of allocated goodwill to sold producing oil and gas properties.